Unveiling the formula for Sige New Energy's hit products: Is it a victory of Apple's methodology or a ripening technique of the sales channels?

Within just three years of its establishment, Sigen New Energy, a so - called "cash cow" whose revenue has increased by over 100 times, is at a critical juncture in its attempt to list on the Hong Kong Stock Exchange.

On February 21, 2025, Sigen officially submitted its prospectus to the Hong Kong Stock Exchange, planning to list on the main board. CITIC Securities and BNP Paribas serve as joint sponsors. The company needs to complete the listing hearing within this week.

Founded in 2022, Sigen's most famous product is the five - in - one solar energy storage and charging integrated machine, SigenStor. The product was officially launched in 2023, and in the first three quarters of 2024, Sigen's revenue was close to 700 million, with SigenStor contributing up to 90% of the revenue, making it a veritable "blockbuster" product.

In terms of products and revenue, Sigen's product strategy is quite similar to Apple's:

Create core blockbuster products, have outstanding product aesthetics, and attach great importance to system optimization

Interestingly, the founder, Xu Yingtong, worked at Huawei from 1999 to 2022. He led Huawei's photovoltaic inverter business to achieve the world's first - place in global shipments in 2015.

In addition to Xu Yingtong, Sigen's team also includes several former Huawei executives. The startup team with a high "Huawei factor" received hundreds of millions of yuan in funding at the beginning, even before the products were launched, which reflects the capital market's trust in the "Huawei - affiliated" background.

It completed six rounds of financing in just 19 months, with support from top - tier institutions such as Hillhouse Capital and Walden International.

Although the prospectus does not clearly state its valuation, the post - investment valuation after the Series B financing had reached 4.3 billion yuan. This achievement is quite remarkable for a startup that has only been established for two years.

Many well - known companies have emerged from Huawei - affiliated teams. Their common approach often follows Huawei's strategy of concentrated breakthrough in niche markets and a team style with strong execution ability like a military corps.

Looking closely at Sigen's development history, it seems to be intentionally or unintentionally implementing a set of "Apple's methodology" in its products, combined with its aggressive channel strategy, creating a growth myth in the industry.

01 Creating a Blockbuster Household Energy Storage Product

2022, the year when Sigen was founded, is known as the first year of energy storage. Driven by the changes in energy costs brought about by the Russia - Ukraine war and government subsidies, the household energy storage market in Europe experienced explosive growth. Therefore, the company initially targeted the European market.

However, just one year later, European warehouses were filled with domestic household energy storage products. Against this background, although Sigen had made some progress in Europe, it chose to break through in the Australian market.

At that time, Sigen noticed that emerging markets such as Australia were also heating up rapidly.

Affected by the geographical environment, Australia has been deeply affected by extreme weather in recent years. Frequent climate disasters have led to an increase in the failure rate of power infrastructure, and the tight power supply has caused frequent power outages and soaring electricity prices. Therefore, many households are trying to install household energy storage systems to ensure emergency power supply and save electricity costs.

Australia has a good foundation for the popularization of household energy storage, and the growth in recent years has been particularly remarkable. In the first three quarters of 2024, the number of new rooftop photovoltaic projects with battery energy storage in Australia reached 18,900, a year - on - year increase of 15%.

In 2025, the federal government launched a 2.3 - billion - Australian - dollar CHB (Cheap Home Batteries) subsidy program, which further fueled the hot household energy storage market.

After the subsidy policy was officially implemented on July 1, 2025, 19,592 battery systems were installed in that month alone, with a total capacity of 344.1 MWh, which is more than a quarter of the total battery installations in 2024.

Acutely aware of this trend, Sigen launched its first household energy storage product, SigenStor, in 2023.

This product fully reflects Sigen's product genes:

First: Focus on Creating Blockbuster Products

This distributed energy storage device integrates a photovoltaic inverter, an energy storage converter, an energy storage battery, a DC charging module, and an energy management system. It was unique in the market at that time and is the main product contributing more than 90% of Sigen's revenue.

Compared with traditional solutions that require separate installation of inverters, charging piles, and battery components, SigenStor greatly simplifies the system structure. The installation process does not require professional electricians, and ordinary users can complete the deployment of the entire system according to the instructions in the app.

SigenStor has a built - in V2X bidirectional DC charging function, which can directly shorten the charging time of electric vehicles and allow the electric vehicle to supply power to the home in case of emergencies such as power outages.

This means that SigenStor is not only a photovoltaic energy storage system but also has the functions of a DC fast - charging pile and a backup power source, meeting users' comprehensive needs for photovoltaic power generation, self - energy storage, and electric vehicle charging.

This extreme convenience and functionality directly address users' pain points. While competitors' products require customers to assemble multiple sets of equipment, SigenStor uses a "turn - key" solution to reduce the trouble in the design and installation process and lower the uncertainty of multi - device compatibility.

It is precisely because Sigen has grasped users' core needs and covered them with one product to the greatest extent that it has achieved the myth of selling 90% of its revenue with one product.

Second: Emphasize Software

Traditional household energy storage products are not only bulky and unattractive but also have very complex system pairing. It often takes a whole day to connect to the power grid and pair the battery, and the built - in systems are very outdated.

Sigen's mobile app has an industry - first GPT - 4 AI assistant built - in, providing customers with 7×24 - hour intelligent technical support and answering questions about installation configuration, fault troubleshooting, etc. in real - time, aiming to provide customers with a "nanny - level" service experience.

In a user survey in 2024, about 90% of end - users and installers gave positive feedback on the SigenStor system, which is sufficient to prove its reliability.

In addition, Sigen's operation interface is comparable to that of consumer electronics in the industry.

Sigen App operation interface

Third: Pay Attention to Product Aesthetics

Sigen's products use a large number of integrated molds and light strips, maximizing the simplicity and sense of technology in appearance. This can be clearly felt just by making a comparison at exhibitions.

With these three advantages, data shows that from March to May 2025, Sigen's market share in the Australian household energy storage system market soared from 17% to 31%, surpassing competitors such as Ginlong Technologies, GoodWe, and Tesla to rank first. It only took six months from obtaining the CEC listing for the Australian market in October 2024 to reaching the first place.

In Europe, the proportion of Sigen's European revenue in the first three quarters of 2024 further increased to 65.1%. According to the company's prospectus, Sigen sold about 18 MWh of energy storage systems in Europe in 2023, while the sales volume in Europe in the first nine months of 2024 exceeded 140 MWh, achieving a multiple - fold growth.

02 Transitioning to Commercial and Industrial Energy Storage

In 2024, the energy supply in Europe became more stable, electricity prices declined, and the penetration rate of household energy storage in core European markets such as Germany was close to saturation. As a result, the growth rate of the European household energy storage market slowed down, and Sigen timely transitioned to the commercial and industrial energy storage track.

Sigen launched its first - generation commercial and industrial energy storage product, SigenStack, in 2024. This product also follows the "minimalist" product feature. Compared with traditional solutions in the same power range, it reduces weight by 19% and volume by 36%. 165 units can be loaded into a 40 - foot container, greatly reducing transportation and construction difficulties.

Studying this product closely, it is undoubtedly a combination of "blockbuster, software, and aesthetics".

Product Definition: Quickly Identify Core Needs and Design Blockbuster Products

The product uses a DC - coupled architecture, eliminating the need for an external photovoltaic inverter, AC combiner box, or independent data collector. The stacked modular battery and plug - and - play interface also make installation more convenient. A single SigenStack system can complete hardware installation within one hour and debugging within 15 minutes. This rapid deployment ability is very suitable for the requirements of European business users for "short construction period and less downtime" and is very popular among European customers.

In addition, in case of local failures, SigenStack can precisely control the problem within a single module. Without the need for professional maintenance personnel, the on - site staff only needs to replace the faulty module, and the whole process takes no more than 2 hours, greatly shortening the maintenance cycle and improving system availability.

In Europe, where labor costs are high, the significantly reduced labor and maintenance costs are also one of the key factors for customers to choose Sigen.

On the Software Side: Build an Intelligent Management and Control System

The cloud platform launched by Sigen integrates the interfaces of mainstream virtual power plant operators in countries such as Sweden and the Netherlands, automatically synchronizes the real - time dynamic electricity prices of more than 60 power companies in more than 20 European countries, and automatically adjusts the charging and discharging strategies through intelligent algorithms. Whether it is a large or small country, Sigen strives to save money and trouble for all customers.

With SigenStack, Sigen has won many commercial and industrial energy storage orders.

Appearance: Redefine the Appearance Instead of Using Container Design

The long - standing industry standard for commercial and industrial energy storage has been the 200 - MWh integrated cabinet, while SigenStack is the first to evolve the appearance of household energy storage to commercial and industrial energy storage, making another aesthetic innovation in energy storage.

Appearance of SigenStack

It seems that SigenStack is following the formula and is likely to replicate the success of SigenStor:

In 2024, Sigen cooperated with Debar Solar in Bulgaria on a 20 - MWh energy storage project. Based on the excellent performance of the product, the Bulgarian side signed a new cooperation agreement for a 20 - MWh energy storage project with Sigen in 2025.